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Pulished Date November, 2020
ID: 10419
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Global Healthcare Cloud Computing Market Size, Share, Trends & Growth Analysis Report – Segmented By Product, Deployment Model, Component Service Model, Pricing Model and Region (North America, Europe, Asia Pacific, Latin America, The Middle East, and Africa) – Industry Forecast (2020 to 2025)

Pulished: November, 2020
ID: 10419
Pages: 190

Healthcare Cloud Computing Market Size (2020 to 2025)

Between 2020 to 2025, the size of the global healthcare cloud computing market is expected to grow at a CAGR of 18.1%. This market is forecasted to worth USD 68.4 Billion by the end of 2025.

MARKET DRIVERS:

Growth in the adoption of big data analysis, technological advancements in the healthcare industry, an increase of focus on healthcare digitization, and a rise in the deployment of cloud-based HCIT solutions to improve healthcare providers' care processes are some of the significant driving factors for the healthcare cloud computing market. The growing adoption of wearable devices and the internet of things (IoT) in healthcare provides support to the growth of the market. From various internal sources like radiology images, EHRs (electronic health records), prescription information, insurance claims data, pharmacy sales, and lab tests, a vast amount of data will be collected and generated by healthcare providers, creating more scope for the market to grow.

Every year, the volume of digital data increases due to the payer environment like stimulation for the usage of EHRs and a shift towards value-based payments. Also, cloud-based analytics tools will help provide better management of patients by transforming health data into actionable insights. The factors mentioned above are drivers of the healthcare cloud computing market.

MARKET RESTRAINTS:

Privacy concerns and security of data are significant restraints for the healthcare cloud computing market. The significant issue in cloud solutions is the security of data hosted by vendors compared to data stored on-premise. Information on patients should be so secure and should consider a sensitive issue. There is a necessity of maintaining privacy due to cyber-attacks. The rise of initiatives towards digital transformation in data security, healthcare, and privacy concerns are increasing rapidly. Many peoples are facing problems due to cyber-attacks. So, preferring private clouds for security. These are restraints of the healthcare cloud computing market.

MARKET OPPORTUNITIES:

The global healthcare cloud computing market has opportunities such as the emergence of the tele-cloud as wireless technology is governing the market. Moreover, a robust mechanism is providing patient care delivery to remote locations proven by the cloud. Treatment for patients who are in rural areas providing an opportunity for players through tele-cloud. The adoption of tele-cloud is providing many opportunities for players in several countries.

MARKET CHALLENGES:

Interoperability and portability issues are the primary challenges for the global healthcare cloud computing market. Accessing the data of patients is an easy task for hospitals or healthcare organizations. Interoperability issues are due to the transmission of data to the cloud server from hospitals. Interfaces and Cloud APIs are posing a challenge to the organization for attempting cloud computing interoperability. There is a lack of standardization among the cloud service providers, limiting shares of data between different cloud tools that lead to portability issues.

Impact of COVID-19 on the Global Healthcare Cloud Computing Market:

COVID-19 pandemic affected the healthcare cloud computing market. Many organizations are facing difficulties running the market smoothly, which opted for cloud computing infrastructures. For social distance on hectic days, measures are mandatory for mild symptoms patients to opt for remote consultation. Most healthcare providers are consulting through video conferences and phone calls due to the COVID-19 pandemic, hoping that the healthcare cloud computing market will regain shares in upcoming days. The market should be on track from 2021.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2019 to 2025

Base Year

2019

Forecast Period

2020 to 2025

Segments Covered

By Product, Deployment Model, Component Service Model, Pricing Model and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report on the global healthcare cloud computing market has been segmented & sub-segmented based on the product, deployment model, component service model, pricing model, and region.

Healthcare Cloud Computing Market - By Product:

  • Healthcare Provider Solutions
    • Clinical Information Systems (CIS)
      • EHR/EMR
      • PACS and VNA
      • RIS
      • LIS
      • PIS
      • PHM Solutions
      • Telehealth Solutions
      • Other CIS
    • Non-clinical Information Systems (NCIS)
      • RCM Solutions
      • Financial Management Solutions
      • HIE Solutions
      • Supply Chain Management Solutions
      • Billing & Accounts Management Solutions
      • Other NCIS
  • Healthcare Payer Solutions
    • Claims Management Solutions
    • Payment Management Solutions
    • Customer Relationship Management Solutions
    • Provider Network Management Solutions
    • Fraud Management Solutions

Based on the product, the healthcare provider solutions segment dominates the global healthcare cloud computing market with clinical information systems and non-clinical information systems due to demand in the increase of clinical and non-clinical information systems. The growth rate is attributing due to a surge in demand for cloud-based CIS and NCIS solutions owning the advantages like smooth integration of applications, effective migration strategies, data control, compliance, security, and on-demand storage.

Healthcare Cloud Computing Market - By Deployment Model:

  • Private Cloud
  • Hybrid Cloud
  • Public Cloud

By the deployment segment, the Private cloud is holding the largest share in 2020. The deployment segment is holding share due to high-security options, offering, and providing control over the network. Larger organizations which are having IT staff and expert security are working by private cloud storage. Also, on-premise private cloud will allow organizations for their applications to any complicated issues. In forthcoming years, many are adopting an on-premise private cloud.

Healthcare Cloud Computing Market - By Component:

  • Services
  • Software

The service segment in the component segment is boosting growth in the healthcare cloud computing market. During the forecast period, the services segment is attributing the highest growth rate. The segment's growth rate is attributing to the recurring nature of services like education and training, software upgrades, installation, maintenance, and consulting.

Healthcare Cloud Computing Market - By Pricing Model:

  • Pay-as-you-go
  • Spot Pricing

The pay-as-you-go segment is accounting for the largest share in 2019 during the forecast period by the pricing model segment. Utilization of economic model, allowance of healthcare providers are leading factors.

Healthcare Cloud Computing Market - By Service Model:

  • Software-as-a-Service (SaaS)
  • Infrastructure-as-a-Service (IaaS)
  • Platform-as-a-Service (PaaS)Payers

SaaS segment in the service segment is attributing the largest share in the healthcare cloud computing market. It owns several advantages above on-premise solutions like security, faster deployment time, little up-front capital expenses, and lower total ownership cost.

Healthcare Cloud Computing Market - By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

During the forecast period, the Asia-Pacific region recorded the largest share and projecting a high compound annual growth rate. Change in demographics is prevalent in countries like India and China due to a large volume of patient data. In the Asia-Pacific region, market players are more focusing on healthcare digitization. Europe region is also recording a significant share in the healthcare cloud computing market. Increment in investments for modernization in healthcare infrastructure is attributing factors in the European region. As expected, the North American region contributes the largest share due to the attribution of growth in patients that leads to a subsequent increase in telehealth and virtual care delivery options in the healthcare cloud computing market.

KEY MARKET PLAYERS:

Companies such as IBM, CareCloud Corporation, Agfa-Gevaert N.V., Merge Healthcare Inc., Carestream Corporation, Cerner Corporation, Microsoft Corporation, Oracle Corporation, ClearData Networks Inc., Sectra AB, Nuance Communications, GE Healthcare, athenahealth Inc., NextGen Healthcare, Siemens Healthineers, and Dell Inc. are playing a dominating role in the global healthcare cloud computing market.

HAPPENINGS IN THIS MARKET IN THE RECENT PAST:

  • In 2020, to transform cloud-based IT solutions, a strategy was made for five years by Allscripts (US) and Microsoft (US).
  • In 2020, to offer a fully automated and integrated cloud-based system, a partnership was made between Doctible (US) and NextGen Healthcare (US) to support patients and to boost small practices.
  • In 2019, an acquisition was made by IBM (US) with Red Hat (US), which helps in the enhancement of IBM's hybrid cloud portfolio and helps in enabling the development of a next-generation multi-cloud hybrid platform.
  1. INTRODUCTION
    1. Market Definition
    2. Study Deliverables
    3. Base Currency, Base Year and Forecast Periods
    4. General Study Assumptions
  2. RESEARCH METHODOLOGY
    1. Introduction
    2. Research Phases
      1. Secondary Research
      2. Primary Research
      3. Econometric Modelling
      4. Expert Validation
    3. Analysis Design
    4. Study Timeline
  3. Report Overview
    1. Executive Summary
    2. Key Inferences
  4. Market Dynamics
    1. Impact Analysis
      1. Drivers
      2. Restraints
      3. Opportunities       
    2. Regulatory Environment
    3. Technology Timeline & Recent Trends
  5. Competitor Benchmarking Analysis
    1. Key Player Benchmarking                    
      1. Market share analysis      
      2. Products/Service
      3. Regional Presence               
    2. Mergers & Acquisition Landscape                     
    3. Joint Ventures & Collaborations
  6. MARKET SEGMENTATION
    1. By Product Type
      1. Healthcare Provider Solutions
        1. Clinical Information Systems (CIS)
          1. EHR/EMR
          2. PACS and VNA
          3. RIS
          4. LIS
          5. PIS
          6. PHM Solutions
          7. Telehealth Solutions
          8. Other CIS
        2. Non-clinical Information Systems (NCIS)
          1. RCM Solutions
          2. Financial Management Solutions
          3. HIE Solutions
          4. Supply Chain Management Solutions
          5. Billing & Accounts Management Solutions
          6. Other NCIS
      2. Healthcare Payer Solutions
        1. Claims Management Solutions
        2. Payment Management Solutions
        3. Customer Relationship Management Solutions
        4. Provider Network Management Solutions
        5. Fraud Management Solutions
      3. Y-o-Y Growth Analysis, By Product Type
      4. Market Attractiveness Analysis, By Product Type
      5. Market Share Analysis, By Product Type
    2. By Deployment Model
      1. Private Cloud
      2. Hybrid Cloud
      3. Public Cloud
      4. Y-o-Y Growth Analysis, By Deployment Model
      5. Market Attractiveness Analysis, By Deployment Model
      6. Market Share Analysis, By Deployment Model
    3. By Component
      1. Services
      2. Software
      3. Y-o-Y Growth Analysis, By Component
      4. Market Attractiveness Analysis, By Component
      5. Market Share Analysis, By Component
    4. By Pricing Model
      1. Pay-as-you-go
      2. Spot Pricing
      3. Y-o-Y Growth Analysis, By Pricing Model
      4. Market Attractiveness Analysis, By Pricing Model
      5. Market Share Analysis, By Pricing Model
    5. By Service Model
      1. Software-as-a-Service (SaaS)
      2. Infrastructure-as-a-Service (IaaS)
      3. Platform-as-a-Service (PaaS)Payers
      4. Y-o-Y Growth Analysis, By Service Model
      5. Market Attractiveness Analysis, By Service Model
      6. Market Share Analysis, By Service Model
  7. GEOGRAPHICAL ANALYSIS
    1. Introduction
      1. Regional Trends
      2. Impact Analysis
      3. Y-o-Y Growth Analysis
      4. Market Attractiveness Analysis
      5. Market Share Analysis
    2. North America
      1. Introduction
      2. United States
      3. Canada
    3. Europe
      1. Introduction
      2. U.K
      3. Spain
      4. Germany
      5. Italy
      6. France
      7. Rest of Europe
    4. Asia-Pacific
      1. Introduction
      2. China
      3. India
      4. Japan
      5. South Korea
      6. Australia and NZ
      7. Rest of APAC
    5. Latin America
      1. Introduction
      2. Brazil
      3. Argentina
      4. Mexico
      5. Rest of Latin America
    6. Middle East & Africa
      1. Introduction
      2. Middle-East
      3. Africa
  8. STRATEGIC ANALYSIS
    1. PESTLE analysis
      1. Political
      2. Economic
      3. Social
      4. Technological
      5. Legal
      6. Environmental
    2. Porter’s Five analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Consumers
      3. Threat of New Entrants
      4. Threat of Substitute Products and Services
      5. Competitive Rivalry within the Industry
  9. MARKET LEADERS' ANALYSIS
    1. IBM
      1. Overview
      2. Products
      3. Financials (subjected to availability based on company type)
      4. Recent Developments
      5. SWOT analysis
      6. Analyst View
    2. CareCloud Corporation
    3. Agfa-Gevaert N.V.
    4. Merge Healthcare Inc.
    5. Carestream Corporation
    6. Cerner Corporation
    7. Microsoft Corporation
    8. Oracle Corporation
    9. ClearData Networks Inc.
    10. Sectra AB
    11. Nuance Communications
    12. GE Healthcare
    13. athenahealth Inc.
    14. NextGen Healthcare
    15. Siemens Healthineers
    16. Dell Inc.
  10. COMPETITIVE LANDSCAPE
    1. Market share analysis
    2. Merger and Acquisition Analysis
    3. Agreements, collaborations and Joint Ventures
    4. New Product Launches
  11. MARKET OUTLOOK AND INVESTMENT OPPORTUNITIES
  12. APPENDIX
  13. List of Tables
  14. List of Figures
  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of product, deployment model, component service model and pricing model along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

Healthcare Cloud Computing Market

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